Saudi 'Top 100' turnover surges 40pc

Riyadh, May 28, 2013

The turnover of the "Top 100" Saudi Arabian companies rose by 40 per cent to SR676 billion ($180.2 billion) this year from SR484 billion in 2009, said a report.

Their total assets too increased by 35 per cent to SR3.1 trillion from SR2.29 trillion in 2009, said the Arab News citing a news report.

The Top 100 Saudi companies' list was compiled by Al-Eqtisadiah business daily. Petrochemical giant Saudi Basic Industries Corporation (Sabic) retained the top position in the prestigious list followed by National Commercial Bank and Saudi Electricity Company in the second and third positions.

Al-Rajhi Bank, Saudi Telecom Company, Samba Financial Group, Riyad Bank, Banque Saudi Fransi, Saudi British Bank and Arab National Bank grabbed their positions among the first top 10 companies, said the report.

Petrochemical companies performed well in the list, followed by cement firms and banks. Transport, hotel, energy and media companies had low representation, the report added.

Both Sabic and Saudi Electricity Company (SEC) have maintained their top positions in the list for the last five years, reflecting their strength and good performance, said the report.